2024 NGN to IDR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 NGN to IDR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the NGN to IDR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 18.2030. Conversely, the yearly low was recorded on September 28, dropping to 9.0650.
This high-to-low spread represents a total annual volatility of 9.1380 IDR. From a start-to-finish perspective, comparing the January average rate of 17.1479 to the December average rate of 10.2323, the exchange rate registered a net change of -40.33% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2024 high of 18.2030 was down 47.76% compared to the 2023 peak of 34.8479, indicating shifts in long-term support levels.
Comparing the value generated converting 1,000,000 NGN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
NGN to IDR Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 12.3957, compared to 9.8676 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 2.5281 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 7.7273 IDR (High: 17.4312 / Low: 9.7039). On the other end, November was the most stable month, with a tight range of 0.3794 IDR (High: 9.6569 / Low: 9.2774).
Growth Streaks & Declines
TrendsNo sustained consecutive month-over-month growth streak of 2+ months occurred in 2024. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 5.1989 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2024: 17.1479) against the same month in 2023 (average: 33.5363), the exchange rate shifted by -16.3883 (-48.87%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 18.2030 | 16.2273 | 17.1479 |
| February | 17.4312 | 9.7039 | 11.9490 |
| March | 11.3875 | 9.6837 | 10.3130 |
| April | 13.6010 | 11.2148 | 12.6155 |
| May | 13.0322 | 10.5272 | 11.3780 |
| June | 11.6291 | 10.7803 | 10.9708 |
| July | 11.5886 | 9.7877 | 10.7277 |
| August | 10.1727 | 9.6762 | 9.8697 |
| September | 9.7850 | 9.0650 | 9.3859 |
| October | 9.7249 | 9.1609 | 9.5282 |
| November | 9.6569 | 9.2774 | 9.4616 |
| December | 10.5079 | 9.4202 | 10.2323 |